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Feds reject Exxon Mobil bid to block shareholder proposal
2016-03-24 18:39:00| Climate Ark Climate Change & Global Warming Newsfeed
Comment: The proposal, put forward by NY state's comptroller, would force the company to account annually for risks that climate change or legislation created to control carbon pollution would post to the company. As of early afternoon trading on Wednesday, Exxon stock has remained relatively flat on the day, recently seen trading at $83.94 from an open of $83.86. The Rockefellers have chose to drop Exxon Mobil (NYSE:XOM). The fund's board said it has directed advisors to sell all holdings of ExxonMobil,...
Tags: block
bid
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proposal
Feds tell Exxon Mobil to allow climate change vote
2016-03-24 16:01:00| Climate Ark Climate Change & Global Warming Newsfeed
Hill: Exxon Mobil Corp. must allow its shareholds to vote on a proposal to receive more information about climate changes impact on the oil giants business. The Securities and Exchange Commission told Exxon this week that it must include the resolution among the slate of proposals shareholders will vote on in May, Reuters reported Thursday. The proposal would have the company outline the way climate change and energy legislation impact its ability to operate profitably. "It does not appear that...
Tags: change
vote
mobil
climate
Oil Baron's Descendants Shame Exxon Mobil 'Morally Reprehensible Conduct'
2016-03-24 13:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Huffington Post: The Rockefeller Family Fund is divesting from major segments of the fossil fuel industry, the fund said in an announcement that also singled out Exxon Mobil for blistering criticism. The nonprofit trust, which was started by the heirs of the industrial-era oil monopolist John D. Rockefeller, called Exxon Mobil's alleged efforts to cover up evidence of climate change "morally reprehensible conduct' in a Wednesday statement. The fund, which provides grants to further environmentalism, women's...
Exxon Mobil must give shareholders climate vote, regulator rules
2016-03-24 11:51:00| Climate Ark Climate Change & Global Warming Newsfeed
Climate Home: The US Securities and Exchange Commission has ordered Exxon Mobil to give shareholders a vote on how it discloses climate risk data. The oil major had sought to block a shareholder resolution that would make it reveal how climate action could hit its profits. Exxon argued it already gave enough information. That was overruled by the regulator, as explained in a letter dated Tuesday 22 March. It found Exxon was not doing as much as investors including New York State`s pension fund and the Church...
Exxon Mobil must allow climate change vote: U.S. SEC
2016-03-24 09:59:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: The U.S. Securities and Exchange Commission has ruled Exxon Mobil Corp must include a climate change resolution in its annual shareholder proxy, a defeat for the world's largest oil producer, which had argued it already provides adequate carbon disclosures. In a Tuesday letter to Exxon seen by Reuters, the SEC said the oil producer cannot keep a proposal spearheaded by New York state's comptroller from a full shareholder vote at the company's annual meeting in May. If approved, the proposal...
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